Ch. 741

1994 LAWS OF MARYLAND

Article - Financial Institutions

11-301.

(b) The licensing provisions of this subtitle do not apply to any of the following
persons, if organized under the laws of this State or otherwise qualified to do business in
this State:

(1)     A banking institution;

(2)     A national banking association;

          (3) A federal or state savings and loan association:

     (4) A federal or state credit union;

(5) A licensee under Title 11, Subtitle 2 of this article; or

     (6)  A seller of goods or services or both not engaged in:

              (i) Making loans; OR

(ii) [Offering extensions of credit secured by secondary liens on
residential real property; or

        (iii)] Acting as a credit services business as defined under Title 14,
Subtitle 19 of the Commercial Law Article.

        SECTION 2. AND BE IT FURTHER ENACTED, That a seller of goods or
services or both extending credit in accordance with Title 12, Subtitle 9 or 10 of the
Commercial Law Article, who was not engaged in making cash advances to or on behalf
of a borrower at the time of making the extension of credit, may not be held in violation
of Title 11, Subtitle 3 or Subtitle 5 of the Financial Institutions-Article, and a contract
evidencing an extension of credit by the seller may not be deemed unenforceable merely
because, prior' to the effective date of this Act, the seller was not licensed under Title 11,

Subtitle 3 of the Financial Institutions Article.

                                                                                                                                                                         .

SECTION 3. 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 1994.

Approved May, 26, 1994.         

                                                          CHAPTER 741                       

(House Bill 1513)

AN ACT concerning                                                                                     

Creation of a State Debt - Civic Works - Clifton Mansion

FOR the purpose of authorizing the creation of a State Debt in the amount of $275,000
$200,000, the proceeds to be used as a grant to Civic Works for the repair,

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